Article

Last night's UDIA Young Professionals event provided a positive outlook on Melbourne and Victoria, despite the current challenges facing the development industry. Amelia Martin and Phil Cosgrove attended the event, where the key message was clear: Victoria's long-term fundamentals remain strong, even if current market sentiment suggests otherwise.

Key Takeaways

• Melbourne continues to lead Australia in population growth, supporting strong long-term housing demand.
• While higher taxes, regulatory complexity and feasibility pressures have impacted confidence, speakers agreed today's sentiment does not reflect tomorrow's opportunities.
• Compared to Sydney and Brisbane, Melbourne offers compelling value and significant long-term growth potential.
• Investment capital continues to back Australia, with strong interest in residential, industrial, Build-to-Rent (BTR), Purpose-Built Student Accommodation (PBSA), Land Lease Communities (LLC), and data centre infrastructure.

The Key Message

Victoria's biggest challenge isn't demand-it's confidence. Restoring confidence, increasing housing supply and enabling development will be critical to unlocking Melbourne's next growth cycle.



Overall, the mood was cautiously optimistic, with a strong consensus that Melbourne remains one of Australia's most attractive long-term property and development markets.